The third property has a nice cash flow.I am wondering if there are steps I can take to reduce the cashflow issues of the 2 properties before obtaining another property, like pay down the mortgages or should I just save the cashflow from the third property to pay for any future expenses?

My two cents: get a job and HUSTLE right out of school and create some income and save up some capital.

What I find to be most valuable: Ease of use, cost-savings and efficiency and here's what I mean: If using an interior designer to furnish your rental, they will hand you a list of supplies + furniture to buy and what I was able to do with Minoan is upload that list as a CSV file and then they come back with a quote of all of the items they can fulfill along with their respective discount. 

If you read all of this I'd really appreciate some candid feedback.I live in Snohomish County, I'm a Navy Veteran, have a stable W-2 making about 80K/yr after taxes, and have a modest amount in savings.

There's no current loan on it right now.Given that the investor is a family member (that's how I'm reading it), buying the LLC will "save" you money from buying the land yourself as there won't be any closing/transaction costs.

After listening to @Brandon Turner and @davidgreene do the recap it is true that you sharing your story will save BP member millions of dollars.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

At the same time, you would like to maximize your investment until you move in F/T.

100% VA loan, which allowed me to put money saved towards renovations.How did you add value to the deal?

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).